Los Angeles, California — The entertainment industry’s highest-paid executive for the last year is one who has been absent from the Hollywood scene for over a year. Bob Bakish, the former CEO of Paramount Global, topped the compensation list with a staggering severance package valued at $69.3 million. This amount exceeds the total salaries of any other industry executive, marking a remarkable post-retirement achievement.

Bakish’s exit from Paramount was officially announced in April, coinciding with tense negotiations involving the studio’s ownership. Paramount’s owner, Shari Redstone, was in discussions with David Ellison’s Skydance and RedBird Capital regarding a deal that would potentially shift ownership away from the Redstone family. Speculation emerged that there were significant disagreements between Bakish and Redstone about the direction of the sale.

In his absence, the three co-CEOs—Chris McCarthy, George Cheeks, and Brian Robbins—collectively earned around $20 million, with each taking home a base salary of $6 million. Their compensation packages reflect a blend of ongoing executive roles, a stark contrast to Bakish’s lucrative severance.

Meanwhile, Ted Sarandos, co-CEO of Netflix, remains the highest-paid active executive in the industry, closely followed by his fellow co-CEO Greg Peters. Their compensation packages were raised in 2024, highlighting a competitive landscape in executive remuneration despite a broader industry with mixed financial performance.

Moreover, a significant number of top Hollywood executives saw their pay exceed the median compensation figures outlined in the Equilar 100 report, which compiles earnings from major companies across various sectors. The report indicated a median total compensation of $25.6 million for the year, showcasing a 9.5% increase from the previous year.

Beyond the entertainment sector, compensation data suggests that long-term incentives, including stock options, are becoming increasingly prevalent. Amit Batish, a senior director at Equilar, indicates that while some companies may face stagnating stock performance, there is a continuous push for stability and continuity in leadership positions.

In a broader context, Jim Anderson, CEO of Coherent Corp., topped the Equilar list with a total compensation of $101.5 million, followed by Microsoft’s Satya Nadella and Apple’s Tim Cook. Disney CEO Bob Iger claimed the 12th position, surpassing $40 million in total compensation, with most earnings derived from stock awards.

Notably, TKO CEO Ari Emanuel faced a significant drop in compensation, receiving $18.1 million in 2024, down from $65 million the previous year. Meanwhile, Dwayne Johnson, serving on the board of TKO, reportedly earned close to $30 million through stock compensation.

The rise of stock awards across Equilar 100 companies, which surged 40.5% last year, reflects a growing trend of offering attractive compensation packages to both attract and retain top talent. Jennifer Witz, CEO of SiriusXM, experienced the most dramatic increase, receiving compensation that reflected a 415% growth—all attributed to a combination of stock and option awards related to her employment contract renewal.

Overall, the evolving landscape of executive compensation in Hollywood and beyond indicates a focus on long-term performance and stability amid the uncertainties faced by the entertainment industry.